Mr. Chris Hazelton reports

METALITE COMPLETES LAUNAY GOLD EXPLORATION PROGRAM AND TERRAEYE STUDY COVERING 100 KM SUPERSCRIPT 2; IDENTIFIES 17 GEOLOGICAL FOLLOW-UP LOCALITIES AND SIX SITES FOR FOLLOW-UP GOLD EXPLORATION

Metalite Resources Inc. has completed its initial 2026 integrated exploration program at its 100-per-cent-owned Launay gold property in Quebec's Abitibi greenstone belt.

The program combined high-resolution WorldView-3 satellite imagery, satellite radar surveys, existing lidar (light detection and ranging) terrain data, historical geological compilation and prospecting, complemented by a specialist TerraEye spectral study. Metalite also filed an assessment work report with Quebec's Ministere des Ressources naturelles et des Forets (MRNF) in support of applications to renew key Launay mineral claims.

The principal result is the identification of 17 geological review localities across Chauvignet Northwest and Lyndhurst, including six leading sites for follow-up gold exploration. The localities include potential geological observation windows, covered-structure hypotheses and interpretation controls. Planned mobile metal ion (MMI) soil geochemistry, ground geophysics and further compilation will help determine which areas warrant more detailed evaluation and possible drill target delineation.

Alex Storcheus, executive chairman of Metalite, commented: "Our 2026 work has moved Launay from a broad historical data set to a focused gold exploration plan. We can now investigate specific rock contacts, structural corridors and potential alteration indicators instead of treating the property as one large target. Planned geochem sampling and ground geophysics will help us identify the most compelling candidates for future exploration and potential drilling."

Program highlights:

• 17 geological review localities: Six leading examination sites have been selected for follow-up; the wider group also includes interpretation references and surface condition controls.
• Path toward drill targeting: Planned MMI soil geochemistry, ground geophysics and additional geological compilation will test the more promising gold exploration hypotheses.
• Multisensor survey database: Acquired WorldView-3 optical imagery, completed new taskings of two ICEYE X-band SAR scenes, combined with a pre-existing two-metre (m) lidar-derived terrain model, were brought together for interpretation.
• TerraEye spectral screening: Preliminary responses potentially associated with goethite and epidote, as well as chlorite/calcite-like signatures, were identified for field verification.
• Prospecting observations: Quartz veins, pyrite and pyrrhotite, silicification, shearing, and gossan coatings provide context for assessing possible structurally controlled gold environments.

In Abitibi-type gold systems, mineralization may occur along faults and shear zones, lithological contacts, and zones of quartz veining or hydrothermal alteration. The remote-sensing surveys help locate geological relationships and potential rock exposures for field, geochemical and geophysical testing.

Integrated survey results and geological priorities

Metalite evaluated 2018 and 2025 WorldView-3 panchromatic imagery at approximately 30-centimetre (cm) pixel spacing and eight-band visible/near-infrared imagery at approximately 1.2 m pixel spacing, with additional shortwave infrared (SWIR) data for part of the Lyndhurst block. The data were compared with an existing two m lidar-derived terrain model.

Two ICEYE X-band SAR scenes acquired through new tasking requests by Metalite were subsequently calibrated, filtered and terrain corrected. Supplementary radar and imagery data, combined with geological mapping, drilling records, structural interpretations and historical geophysics from Quebec's SIGEOM system and assessment reports, were completed to build an integrated GIS database.

The resulting interpretation identified possible rock observation windows, mapped contacts and structural questions beneath cover.

Chauvignet Northwest 1 (CHNW 1)

CHNW 1 contains five geological review localities along the Macamic fault corridor. Leading sites CH1-INT-01 and CH1-INT-02 highlight ridges near mapped volcanic and gabbro contacts, where deformation, veining and alteration can be examined. The remaining sites provide geological reference exposures, an additional western feature and a potential covered continuation for field checking.

Lyndhurst block

Lyndhurst contains seven review localities, led by LYND-INT-01 (a central knoll) and LYND-INT-02 (a ridge system beside mapped felsic rocks and structures). The other localities address possible rock exposures, a covered structural corridor requiring geophysical evaluation and surface condition controls. The objective is to improve geological understanding before identifying potential gold drill targets.

TerraEye: satellite spectral analysis

TerraEye completed specialist satellite analysis across approximately 100 square km using Sentinel-2, ASTER and EnMAP data, multidate bare-earth compositing and mineral spectral matching. It reported preliminary responses potentially consistent with goethite and epidote, including signatures resembling epidote, chlorite or calcite, in the broader Lyndhurst study area.

Forest and glacial cover limited direct mineral interpretation, and some responses may reflect surface material rather than bedrock alteration. Where usable direct hyperspectral coverage was limited in Chauvignet Northwest, TerraEye used reference-library spectral comparisons for preliminary screening. These results require confirmation through targeted image acquisition or field spectroscopy. TerraEye generated the phase 1 results on a priority basis within five days.

Marek Wilgucki, chief executive officer of TerraEye, commented: "Under boreal vegetation and glacial cover, the most useful result of a satellite study is knowing where spectral data can be relied on and where it cannot. At Launay, that boundary now helps decide where field spectroscopy and sampling will add the most information. A second phase would build on this foundation with spectral targeting integrated with Metalite's geological work."

Prospecting and planned follow-up

Field reconnaissance and sampling across the Trojan-Aiguebelle corridor, Chauvignet Northwest and Lyndhurst documented quartz-bearing intrusive rocks, pyrite and pyrrhotite, silicification, quartz veins, local deformation, and gossan coatings. These features are relevant to the assessment of structurally controlled gold systems but do not themselves establish gold mineralization.

The company is planning a soil geochemical program, targeted ground geophysical surveys, and further compilation and verification of historical mapping, drilling and geophysical data. Together with field checks, this work is intended to rank the review localities, develop a smaller shortlist of potential gold targets and assess whether any warrant eventual drilling.

Alex Storcheus added: "Our satellite and terrain interpretation identifies the most useful places to look for the geological processes that can concentrate gold, while TerraEye's study contributes a complementary assessment of possible alteration indicators. Together, these investigations help us decide where fieldwork and geophysical tests can add the greatest value."

Renewal of key mineral claims

Metalite has filed an assessment work report and submitted applications to renew mineral claims covering priority portions of Launay. The company expects to maintain these areas in good standing, subject to MRNF review, approval and satisfaction of applicable requirements.

Engagement of Generation IACP Inc. for market-making services

Metalite has engaged Generation, an arm's-length Toronto-based registered investment dealer, to provide market-making services in the company's common shares. The engagement is intended to support trading liquidity and an orderly market in accordance with applicable securities laws and Canadian Securities Exchange requirements.

The agreement, dated Oct. 1, 2026, provides for an initial six-month term scheduled from Oct. 1, 2026, to March 31, 2027, with the option to renew for a further six months. Metalite will pay Generation $8,500 per month. No shares or options will be issued as compensation, and Metalite will not provide funds or securities for trading other than the agreed cash fee. Generation will not conduct promotional activities for the company.

Generation is located at 22 St. Clair Ave. East (18th floor), Toronto, Ont., M4T 2S3; contact: info@GenerationIACP.com; 416-361-1498.

About TerraEye

TerraEye is a Wroclaw-based mineral exploration technology company. Its platform integrates satellite spectral analysis, structural interpretation, geophysics and geochemistry to rank exploration targets and document the evidence behind each one. At Launay, TerraEye completed a phase 1 study using multispectral and hyperspectral satellite data, exposed-surface analysis and alteration-indicator mapping, delivered as GIS-ready outputs.

About Metalite Resources Inc.

Metalite Resources is a Canadian mineral exploration company focused on the acquisition, exploration and advancement of precious metals projects. The company owns a 100-per-cent interest in the Arthurs Seat silver-antimony project in New South Wales, Australia, and a 100-per-cent interest in the Launay gold property, a district-scale gold project located in Quebec's Abitibi greenstone belt. The company's strategy is to create long-term shareholder value through the systematic exploration and advancement of high-potential mineral properties.

Qualified person

The scientific and technical information contained in this news release has been reviewed and approved by Carey Galeschuk, PGeo, a qualified person as defined in National Instrument 43-101. Mr. Galeschuk is an officer of Metalite and is not independent of the company.

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